403(b) Plan Resource Center

Under U.S. Department of Labor (DOL) regulations issued on November 16, 2007, retirement plans sponsored by charitable organizations and schools under Internal Revenue Code section 403(b) and covered under the Employee Retirement Income Security Act of 1974 (ERISA) are subject to the annual reporting and audit requirements of ERISA.

ERISA-covered 403(b) plans with 100 or more participants generally are required to file audited financial statements. 403(b) plans with fewer than 100 participants may be eligible to use abbreviated reporting forms without audited financial statements.

403(b) Plans Primer
The AICPA Employee Benefit Plan Audit Quality Center has developed this primer to provide Center members with a general understanding of the nature and characteristics of 403(b) plans, a discussion of recent regulatory developments, and information about other helpful resources.

403(b) Filing and Audit RequirementsThe AICPA Employee Benefit Plan Audit Quality Center has prepared this analysis of Form 5500 reporting and audit requirements for 403(b) retirement plans to help understand the U.S. Department of Labor's Notice of Adoption of Revisions to Annual Return/Report Forms issued on November 16, 2007.

The EBPAQC Member-to-Member Discussion Forum includes a 403(b) Plan Audit forum to help you network and discuss issues and exchange information with other members. The Forum is easy to use and can provide you with a wealth of information. Share your 403(b) experiences with other Center members on the Forum. Click here to visit the Forum.

Questions about the Form 5500 filing and audit requirements for section 403(b) retirement plans?

Also visit the EBPAQC Plan Sponsor Resource Center where you can find information on selecting your plan auditor, resources on the request for proposal (RFP) and auditor evaluation process, and a directory of Center member firms.